We are seeing very large increases in the rates for both wind and flood whenever the building value forces us beyond the pool limits. 100% increases are fairly common. One excess wind quote was withdrawn overnight and replaced with a quote that was four (4) times higher than the quote the day before.
We are also seeing rates increase 100% for property both large schedules and smaller, with Wind deductibles increasing to 2% of TIV. This extends far north of the city, with some carriers quoting areas in Montgomery County with same increases (about 100 miles from coast). It takes about 4 or 5 carriers (or more) to get to $100 M loss limit due to decreased capacity.
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We are seeing very large increases in the rates for both wind and flood whenever the building value forces us beyond the pool limits. 100% increases are fairly common. One excess wind quote was withdrawn overnight and replaced with a quote that was four (4) times higher than the quote the day before.
We are also seeing rates increase 100% for property both large schedules and smaller, with Wind deductibles increasing to 2% of TIV. This extends far north of the city, with some carriers quoting areas in Montgomery County with same increases (about 100 miles from coast). It takes about 4 or 5 carriers (or more) to get to $100 M loss limit due to decreased capacity.